Financial Planning

By creating a financial plan, you are taking important steps toward improving your financial future. A plan does not allow you to predict the future, of course—but understanding your current state, spending habits, goals, and action plan can give you peace of mind. A plan also can put you in a position to retire successfully by implementing strategies to reach your lifetime income needs and distribute your funds appropriately throughout retirement.

For those seeking financial planning only, we charge an hourly rate for a custom comprehensive financial planning services. An estimate of the cost for a plan will be provided after a complimentary consultation. For clients who utilize our investment management services, ongoing financial planning and reviews are included.

At its core, financial planning is creating a roadmap based on the current state of your finances,  to help you achieve your financial goals on your timeline. Financial plans and planning may include (but are not limited to) guidance on the following: investments, life insurance, tax concerns, retirement, college funding, and debt/credit. We break the financial planning process into five simple steps.

 One: Gather personal and financial information and identify financial goals. At Prevail, you will work closely with your advisor to determine the current state of your finances as well as identify your needs, wants, and wishes.

Two: Determine risk tolerance and time horizon. This helps us understand the types of investments that will be the most appropriate and comfortable for you, as well as how long we have to help you achieve your goals.

Three: Implement a customized comprehensive financial plan. This plan will be 100% personalized to your goals, risk tolerance, and time horizon. The process includes working through “what if” scenarios and creating strategies to address them if needed.

Four: Monitor and review your financial plan. Because things change over time, we will monitor your plan on an ongoing basis to ensure it reflects your current reality. We also will sit down with you and ensure the plan is still in line with your goals, risk tolerance, and time horizon. 

Five: Build a lifetime income plan. Once you do retire, it is important to understand your spending thresholds to ensure you do not outlive your money. Our plan for your distribution phase will help answer these questions.